$On$ November $1,2025,$ Kingbird Inc. had the following account balances. The company uses the perpetual inventory method.

During November, the following summary transactions were completed.

Nov. $8$ Paid $$1,775$ for salaries due employees, $of$ which $$925is$ for November and $$850is$ for October.

$10$ Received $$950$ cash from customers $in$ payment $of$ account.

$11$ Purchased merchandise $on$ account from Dimas Discount Supply for $$4,000,$ terms$\frac{2}{10},\frac{n}{30.}$

$12$ Sold merchandise $on$ account for $$2,750,$ terms $\frac{2}{10},\frac{n}{30}.$ The cost $of$ the merchandise sold

was $$2,000.$

$15$ Received credit from Dimas Discount Supply for merchandise returned $$150.$

$19$ Received collections $in$ full, less discounts, from customers billed $on$ sales $of$ $$2,750on$

November $12.$

$20$ Paid Dimas Discount Supply $in$ full, less discount.

$22$ Received $$1,150$ cash for services performed $in$ November.

$25$ Purchased equipment $on$ account $$2,500.$

$27$ Purchased supplies $on$ account $$850.$

$28$ Paid creditors $$1,500of$ accounts payable due.

$29$ Paid November rent $$187.$

$29$ Paid salaries $$650.$

$29$ Performed services $on$ account and billed customers $$350$ for those services.

$29$ Received $$338$ from customers for services $tobe$ performed $in$ the future.

Prepare a multiple$-$step income statement for November.

KINGBIRD

Income Statement

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